SOYBEANS–
Soybeans traded lower today after failing to trade above resistance at 1135 in the July contract. November beans failed to make a move above resistance at 1153. November beans have support at 1133. Soybean oil has cooled off since making new highs and could be getting ready for the next leg higher. Soybean exports were 424k for the current marketing year and 304k for the next marketing year.
July ’26 Soybeans (ZSN26) settled at 1134.75 (-10), high of 1134.75, low of 1118.5. November Soybeans (ZSX26) settled at 1142 (-7.25), high of 1152.75, low of 1138. Cash price is at 1117 (+2)
July Bean Meal (ZMK26) settled at 300.8 (-4.00) high of 306.8, low of 299.2
July Bean Oil (ZLK26) settled at 69.70 (-1.84) high of 71.6, low of 68
Meal to Oil ratio (46.375% Meal – 53.625% Oil)
ZSN26 Moving Averages – (1123) 5-day, (1148) 20-day, (1176) 50-day, (1171) 100-day, (1137) 200-day
ZSX26 Moving Averages – (1140) 5-day, (1158) 20-day, (1167) 50-day, (1147) 100-day, (1115) 200-day
ZMN26 Moving Averages – (303.0) 5-day, (315.1) 20-day, (321.1) 50-day, (318.0) 100-day, (315.5) 200-day
ZLN26 Moving Averages – (72.48) 5-day, (75.01) 20-day, (73.35) 50-day, (67.87) 100-day, (59.77) 200-day
CORN –
July ’26 Corn settled at 417.50 (-3.50) (ZCN26) high of 422, low of 415. December ’26 Corn (ZCZ26) settled at 445.25 (-4.50). Cash price is 430 (-23)
Corn was lower today to end the short week. Corn export sales were 1.157 mmt for the current marketing year and 500k for next year. Weather next week is expected to be cool and wet.
ZCN26 Moving Averages – (415) 5-day, (432) 20-day, (453) 50-day, (455) 100-day, (455) 200-day
ZCZ26 Moving Averages – (443) 5-day, (458) 20-day, (476) 50-day, (474) 100-day, (468) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 605 (-7.75), with a high of 618.75, low of 601.25. December ‘26 Wheat (ZWZ26) settled at 628.75 (-8) Chicago Wheat has a cash price of 610 (+16). July KC Wheat (KEN5) settled at 642.75 (-9.75)
After the large gain during yesterday’s session KC wheat reversed today, however it’s still in an uptrend. Chicago wheat is still in an uptrend but there was some profit taking place today. Export sales for wheat were 400k mt for the current marketing year and 27k for next year.
ZWN26 Moving Averages – (597) 5-day, (603) 20-day, (618) 50-day, (602) 100-day, (577) 200-day
ZWZ26 Moving Averages – (623) 5-day, (634) 20-day, (650) 50-day, (633) 100-day, (608) 200-day
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